There’s a new bill that would bring about a partnership with the Small Business Administration (SBA) and Historically Black Colleges and Universities (HBCUs). Introduced by Congressman Elijah E. Cummings, the Parren Mitchell Minority Business Education and Empowerment Act of 2019 will create a federal partnership between the SBA and HBCUs.

Under the bill, the SBA will have to give out grants to a trial group of different-sized HBCUs to establish Small Business Development Centers (SBDCs) on their campuses.

Listen to GHOGH with Jamarlin Martin | Episode 06: Rodney Sampson

A pioneering name in economic opportunity for Black tech, Rodney Sampson is the founder of HBCU@SXSW and the Atlanta-based Opportunity Hub. In this episode, Rodney discusses investing in Atlanta blockchain startups Storj and Patientory, and the importance of connecting HBCU endowments to Black tech.

“As a proud Howard University graduate and a member of Morgan State University’s Board of Regents, I know the vital role Historically Black Colleges and Universities play in preparing young people to become leaders in their communities,” said Rep. Cummings. “Meanwhile, small businesses power the American economy while creating jobs and opportunities within communities. The Small Business Administration has signaled that it wants to be a leader in enhancing federal partnerships and resource allocation to HBCUs; this legislation will help facilitate this growth and develop data to inform further SBA activity with HBCUs on a larger scale.”

According to the Journal for Blacks in Higher Education, the SBA will be required to submit an annual report to Congress regarding the programs, curriculum, and success of the Small Business Development Centers developed under the grants. The report will also outline the economic impact of the SBDC counseling provided at each HBCU, and the number of small businesses each HBCU has assisted through their respective programs.”